Late Tuesday recap

Carpenter Technology Corp.
CRS, -1.60%
forecast a sequential drop in sales and earnings for the second quarter ended Dec. 31. The Wyomissing, Pa.-based provider of specialty metals cited “weaker demand” for lower-value products tied to economic uncertainty as well as capacity constraints for higher-end products, demand for which has been “strong.”

Carpenter, due to report results Jan. 31, pegged quarterly earnings at about 61 cents to 62 cents a share on net sales, excluding surcharge, of $431 million. While these are higher on a year-over-year basis, they compare to 74 cents a share that the company earned on $441 million in sales for the first quarter of fiscal 2013.

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